All Forum Posts by: Daniel Suarez

I bought the book on rental properties a while back, that comes with a lot of helper documents. One of them is a lease renewal. I use that for all of my lease renewals.

@Holly Williams that's pretty great!

Still in the process of trying to rent the only vacant unit. It gets a little bit harder because it's hard to get good tenants at this price point. 

We are getting another vacancy on Monday, I'll have to fix that one up as well if I want to rent it faster. I've heard it's not in very good conditions. The good thing is that the current rent for it is $470, if we put 9k into the house (new hvac, granite counter tops, paint, laminate floors) we'll rent it for $600. Giving us a 17% return on investment. I'm a little concern that we might be over rehabing, but at least I can get better tenants with laminate floors and granite counter tops. 

Also what does everyone think of using epoxy paint in the floors compared to laminate?

@Holly Williams yeah definitely too small for syndication was just curious for future transactions. When you did the $3M syndication how many people did you work with? did you all put down for the downpayment and got it financed or you guys financed the entire thing yourselves?

@Holly Williams numbers look like this this past 2 months. Mind you we have to save for insurance and taxes since the mortage does not escrow it, so we're talking about an extra $600 a month in expenses. 

@John Delosreyes definitely a good option given the cashflows/ apreciation options. 

@Justin Goodin My brother and I did 40% and 60% respectivly with a 25% downpayment. 

When people do syndication do they usally put the entire amount or just the downpayment?

@David Almedia

I thought of that. Unfortunately, i don't live in the area. We'll see how she does and then maybe do the same with any other vacancies

Ok, first update after 2 months. 

After 2 weeks of closing with had 4 vacancies. 2 that we evicted and 2 that left because they didn't like the new management. We remodeleded the fist 2. Rented one for $625 to a regular tenant renting the other one for $550 to a person that will use it as an airbnb (I'll keep everyon posted on this)

We did some fixes to the 2 non-remodeled not as heavy as the others (painted walls, fixed things that were not working) rented one at $695 all bills included and have a potential lead at the same price. All in all we only have 1 vacancy so far. 

Thanks so much for the advice. Talking first is always a good option. No HOA class C area. I can always send a letter as well.

Hey All, 

One of my tenants complained that the new next door neighbor (not a tenant of mine or anything) smokes a  lot of weed and that the smoke is getting in the house when they leave the AC on so it's been a nightmare for theme these past couple of days.

Any ideas what to do in this case?